Kristin offers to sell land to Ian for $5,000. Ian says that $5,000 is too much but he will pay
$4,000. Kristin says no. Two days later, Ian accepts Kristin's original offer. Which of the
following best describes this situation?
A) Ian made a counteroffer, but Kristin's offer may still be accepted.
B) Kristin may now accept Ian's counteroffer.
C) Ian made a counteroffer, which terminated Kristin's offer.
D) There is now a valid contract between Kristin and Ian.
C
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Daily Needs and Smart Saves are two large retailers in Canada. They compete with each other using similar marketing strategies. Which form of competition is seen between these two retailers?
A. Scrambled merchandising B. Intrinsic competition C. Indirect competition D. Intertype competition E. Intratype competition
Auditing standards require the auditor to identify and assess the risks of material misstatement due to fraud at the financial statement level only
a. True b. False Indicate whether the statement is true or false
Which of the following is an employee-contribution retirement plan?
A. A Roth individual retirement account B. A 401(k) plan C. A traditional individual retirement account D. A stock bonus plan
_____ knowledge includes information stored in documents or other forms of media such as databases, policies and procedures, and technical drawings
a. Tacit b. Allusive c. Explicit d. Indirect